Managing Our Business
Marathon's business is to find, produce and deliver oil and natural gas, refine these feedstocks into motor fuels and other products, and deliver these to consumers. In doing so, we create value for our shareholders and provide quality products and services for our customers. Strong values guide the Company's approach to managing our business. Our actions, decisions and operations must be consistent with the letter and spirit of our strong commitment to health and safety, environmental stewardship, honesty and integrity, corporate citizenship and a high performance team culture. Marathon acts responsibly toward those who work for us, the communities in which we operate and our business partners.
Meeting energy demand is becoming increasingly complex. Marathon delivers energy
resources that are essential to society. Global demand for energy is projected to increase
over the next several decades, primarily driven by population growth and the desire of
developing nations to achieve prosperity and improve the standard of living and welfare
of their citizens.
It is projected that fossil fuels — oil, natural gas and coal — will continue to be the primary sources of energy during this period of significantly increasing demand. Oil and natural gas comprise approximately 60 percent of global energy use today and are projected to comprise the same portion in 2030, according to International Energy Agency estimates.
Marathon recognizes that meeting this growing demand will become increasingly complex and competitive. Energy supplies must be secure, affordable, accessible and produced in an environmentally responsible fashion, whether generated from fossil fuels, nuclear power, renewable fuels or geothermal sources.
Our values underpin the way we approach our business. Marathon helps meet the needs and aspirations of private citizens, commercial enterprises and the public sector by managing our business in a responsible and respectful way. We are accountable for our actions to investors, employees, customers, suppliers, communities, business partners and host governments, among others.
The Company's core values continue to guide what we believe in, how we behave, what we invest in, and projects and issues we influence and promote. Marathon sets high expectations for Living Our Values. We provide processes, tools, training and support to encourage our employees to exemplify these values in every aspect of their jobs.
Health and Safety. We conduct our business with a high regard for the health and
safety of our employees, contractors and neighboring communities. People, not energy
resources, are the heart of our business and are ultimately responsible and accountable
for how we manage the Company's daily operations and relationships.
Marathon's Health, Environmental and Safety Policy and associated performance principles establish the framework for safe work practices and conditions throughout our operations. Safety performance indicators are a central element of Marathon's performance commitments. We strive for continual improvement in safety by raising our expectations and targets for safety performance.
Environmental Stewardship. The Company is committed to minimizing environmental impacts by reducing wastes, emissions and other releases.
Our goal is to provide reliable, affordable energy while protecting the environment. Marathon recognizes and shares concerns about critical global environmental issues such as climate change. We set internal targets for continually improving our environmental performance, and invest in technology and research to reduce our impacts. Marathon also works with governments and other stakeholders to develop technically sound and economically viable policies for environmental protection.
Honesty and Integrity. Marathon upholds high standards of business ethics and integrity, enforces strict principles of corporate governance and supports transparency in all of our operations.
Marathon's 120-year reputation for ethically managing our business ranks among the Company's most valuable assets. Marathon's Code of Business Conduct lays the foundation for sound decision-making through trust, respect, dignity and honesty. We uphold high standards of ethics and integrity at all levels.
Corporate Citizenship. Marathon desires to have a positive impact on our stakeholders and we do so through our commitment to the principles of corporate social responsibility. Through stakeholder engagement, the Company works to understand underlying needs and provide assistance to meet those needs and promote sustainable progress. In addition to managing our operations responsibly, we support individuals and communities through philanthropic endeavors, social development and volunteer programs.
High Performance. We create sustainable value through a high performance team culture and provide a collaborative, supportive work environment where employees are encouraged to reach their full professional potential.
Marathon employs more than 29,000 men and women around the world. We show respect for individuals and value diversity, ultimately fostering a high performance team culture dedicated to creating value.